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By Cafe Hayek (Reporter)
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A Note on Monopsony and ‘Monopsonistic Competition’

Sunday, November 6, 2016 15:38
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(Don Boudreaux)


Warning: wonky.

Pondering my post from earlier today on monopsony and monopoly, I believe that a further distinction is warranted.  It’s a distinction that I did not make in that post (because I didn’t then realize its relevance).  The distinction is between, on one hand, monopsony created by government-imposed restrictions on the purchase or hiring of certain inputs and, on the other hand, monopsony power that allegedly comes not from government-imposed restrictions but instead from “frictions” that cause each monopsonist to face an upward-sloping supply curve of the input.*



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